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Netsuite Shares On Roller Coaster Ahead Of $9.3 Billion Oracle Deal Deadline

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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The Oracle logo is seen on its campus in Redwood CityShares of cloud storage company NetSuite Inc dipped 1 percent to $92.80 on Friday, after surging the day before, maintaining a wide discount from Oracle Inc's takeover offer price that expires on Friday. Oracle, the software giant run by founder Larry Ellison, agreed to buy NetSuite in July for $109 per share, or $9.3 billion, to better compete with nimbler rivals such as Workday Inc and Salesforce.com Inc that specialize in cloud-based offerings. In September, NetSuite disclosed that it received a formal letter from T. Rowe Price, the company's second-largest shareholder behind Ellison, opposing the deal price.




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